Mike Adenuga, Nigeria's second richest man, built his fortune in telecom and oil production. His mobile phone network, Globacom, is the second largest operator in Nigeria with 32 million subscribers; it also has operations in Ghana and the Republic of Benin. A higher estimate of Globacom's revenues led Forbes to increase the value we assign to it. His exploration outfit, Conoil Producing, operates 6 oil blocks in the Niger Delta. He also owns real estate firm Proline Investments, which has hundreds of properties throughout Nigeria. Adenuga studied in the United States, getting an MBA at Pace University in New York, where he worked as a taxi driver to support himself. He returned to Nigeria and made his first fortune trading lace and Coca-Cola. Along the way he made friends with Nigerian military bigwigs who awarded him lucrative state contracts; those formed the foundation of his fortune. More »

According to news website Telegeography, Globacom, a Nigerian mobile telecoms operator owned by Adenuga, is lodging a $600 million takeover bid for Comium Cote d’Ivoire, a company that has been grappling with debt and cash read »

On Friday, Athene listed its shares on the New York Stock Exchange, raising $1.1. billion at a $7.4 billion valuation and setting the stage for a growth spurt that should fuel Apollo’s bottom line for years to come. read »

Yi Zheng, chairman of financial data and software supplier Hithink Royal Flush Information Network, has topped the latest list of China’s best CEOs published in the last issue of Forbes China, the Chinese-language edition of Forbes.

Yi, who is also the company’s chairman, led Hithink to a 233% increase in net profit in 2015. The company read »